Development Works For Food posts 7% profit growth in 2019

31/03/2020 Argaam Exclusive

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Share Price

Development Works Food Co.
131.00
0.80 0.61 %

Development Works Food Co. (DWF)

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Development Works For Food Co. reported net profit after Zakat and tax of SAR 8.3 million for FY2019, up by 7% year-on-year (YoY), driven by higher sales revenue.

 

Operating profit jumped by 16.87% YoY to SAR 6.6 million in FY19.



Financials (M)

Item 2018 2019 Change‬
Revenues 108.66 96.27 (11.4 %)
Gross Income 14.94 19.45 30.2 %
Operating Income 5.69 9.65 69.5 %
Net Income 7.74 8.63 11.5 %
Average Shares 3.00 3.00 -
EPS (Riyals) 2.58 2.88 11.5 %

Q4 2019 earnings leveled up by 52% YoY to SAR 2.1 million.



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